Francis Yes, thankfully there is not room for another food truck to park on the street, so it's just our two trucks serving the street. Samuel Pardon me! My name is Samuel and I'm doing some research on street businesses for an independent newspaper. Got a minute? Kim, if Francis and you own the only two food trucks on this street, what kind of market are you operating in? Monopoly Oligopoly Monopolistic Competition

Question

Francis Yes, thankfully there is not room for another food truck to park on the street, so it's just our two trucks serving the street. Samuel Pardon me! My name is Samuel and I'm doing some research on street businesses for an independent newspaper. Got a minute? Kim, if Francis and you own the only two food trucks on this street, what kind of market are you operating in? Monopoly Oligopoly Monopolistic Competition

Answer 1

If Francis and Kim own the only two food trucks on the street, they are operating in an **oligopoly** market. An oligopoly is a market structure characterized by a small number of firms that have significant control over the market. In this case, with only two food trucks, Francis and Kim have considerable influence over the street's food truck market.

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